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Frequently Asked Questions

Find all the answers to your questions about Sprott, precious metals, storage, shipping and much more.

About Sprott

Who is Sprott Money Ltd.?

Sprott Money Ltd. is a leading precious metals dealer selling gold, silver, and platinum coins plus bullion bars online and over the phone. As one of Canada’s largest owners of gold, silver and platinum bullion, our company’s goal is to facilitate ownership of precious metals no matter how big or small your portfolio.

What does Sprott Money Ltd. sell?

Sprott Money Ltd. sells investment-grade gold, silver and platinum bullion to investors wanting physical delivery or storage. We also can facilitate adding precious metals to your registered retirement accounts.

Why buy from Sprott Money Ltd.?

 

  • Best reputation in the industry
  • Competitive price matching
  • Purity Guaranteed - Investment Grade 
  • Insured Delivery throughout North America & free over $500
  • No Minimum Order Requirements
  • Live Pricing on the website
  • Personalized Customer Service
  • Website Open 24 hours a day, 7 days a week
  • International Storage - Toronto, Vancouver, Delaware USA, Singapore, Switzerland
  • Investment-grade precious metals for Self-Directed Registered Investment accounts - IRA / RSP / TFSA accounts

Are there risks involved in buying bullion?

The purchase of bullion involves a fair degree of risk and is not suitable for everyone. Bullion prices are determined by global financial markets and will fall and rise. For investment advice, please contact an independent financial advisor.

Where is Sprott Money Ltd. located? Can I make a purchase in person?

Although our administrative office is located in Toronto, Canada, we cannot accept walk-in requests as we do not store any precious metals at our location.

Ordering

Why do you take my credit card as a deposit

As precious metals are subject to live pricing, a valid Visa or Mastercard number is required to lock in the market price for your order. A $50 hold will be placed on your card to lock in your market price which will be returned to your card within 7 days once your payment is made in full within the given time period. If you do not make the payment on time, your order will be cancelled and your card will be subject to a $50 fee and any applicable market loss.

Are my prices locked in when I place my order?

Yes. Once you have placed your order, you will be issued a confirmation number. Once this number has been issued your price is locked-in.

Do I have to give you my credit card information?

Yes, in order to lock in your order a valid Visa or Mastercard number is required. Your credit card will not be charged for the amount of your purchase; however, if you should fail to pay for your order, an Unpaid Transaction Fee of $50 and any market loss will be applied and charged to your card.

Sprott Money recognizes the importance of security and confidentiality. We encrypt all communication using VeriSign SSL (Secure Socket Layer). This means that your credit card information cannot be read as it travels from you to Sprott Money.

If you are uncomfortable with giving us your credit card information online, you can place your order over the telephone at toll free 1-888-861-0775.

Do I have to pay retail sales taxes on my purchase?

In Canada

In Canada, “precious metals” are not subject to GST/HST.

Precious metals are bars, ingots, coins or wafers of gold and platinum that are refined to a purity level of 99.5%+. Silver is also a precious metal if it is refined to a purity level of 99.9%+.  If a precious metal meets the definition of a financial instrument, there is no GST/HST charged. (Excise Tax Act, subsection 123).

For Canadian transactions that are subject to Provincial and Federal Sales Tax including shipping and insurance charges, HST rates will vary based on the province of the shipping address provided.

In United States

At this time, Sprott Money does not collect sales tax on transactions delivered to the United States.

International deliveries

At this time, Sprott Money does not collect sales tax on transactions delivered internationally. It is the customer's responsibility to pay any duties or taxes for any goods shipped to an international address.

Do I have to open an account with Sprott Money Ltd.?

For individual orders, you are required to open an online account. Please call us toll free at 1-888- 861-0775 and we will be happy to place your order over the phone or you may purchase online.

The online option is to provide ease, speed and accuracy.

Opening an online account allows you to:

  • Retrieve order history
  • Place orders 24/7
  • Confirm payment
  • Receive notifications


For institutional orders, an account must be created when placing an order. Please indicate during checkout that you are purchasing as an institution. A business application form will then be sent to you. Please complete and return this form to sales@sprottmoney.com.

Does Sprott Money Ltd. backorder any products?

Although we make every attempt to have items available in stock, we reserve the right to delay delivery up to 30 days. Delays may occur due to product shortages or late arrivals. We will inform you if this is the case. If you are interested in a product not currently listed on our website, please contact us.

Do you add a commission or any other hidden fee?

No. Unlike purchasing gold, silver and platinum from the bank or other bullion dealers, there is no commission added to the bullion price. Our prices already include our premium. Because we ship to you, the shipping and insurance charges will be calculated before you check out.

How do I know my order has been received?

You will receive an email with your order number. If you do not receive an email confirmation, please check your SPAM or junk mail folders. Please do not hesitate to call us at 1-888-861-0775 if you have any questions.

I can’t log in to my account. What should I do?

Sprott Money usernames and passwords are case-sensitive. In an effort to improve the online ordering process, we are now using a more sophisticated online commerce program which will bring us added client benefits such as product discounts and personalized services. Unfortunately, you may be asked to change your password to meet the stricter security measures of the new system. If the issue persists or if you have any further questions, please contact us toll free at 1-888-861-0775 or email us at sales@sprottmoney.com.

May I cancel my order?

Once we have issued a confirmation the order is locked-in. Please see our Order & Cancellation Policy for more information. If you choose to cancel your order, an unpaid transaction fee of $50 plus any market loss will be charged to your credit card.

Payment

What payment methods does Sprott Money Ltd. accept?

Payment to Sprott Money Ltd. must be provided after your order was placed using one of the following options:

Money Orders, Certified Checks, Bank Drafts

  • Held for 5 business days after payment is received.
  • Order will ship after the clearing period.

Personal/Business Checks

  • Personal cheque payments must be mailed within 48 hours of order submission and received within 5 business days. 
  • Held up to 5 business days after payment is received.
  • Order will ship after the clearing period.
  • Personal cheques are accepted for amounts up to $20,000 USD.

Mailing Addresses for US orders:

  • Regular US Mail:
  • SPROTT MONEY LTD
    P.O. Box 71070
    Chicago, IL 60694-1070
  • Courier with Signature Required:
  • Conduent c/o BMO Harris
    SPROTT MONEY LTD
    LBX 71070
    141 W Jackson Blvd/Suite 1000
    Chicago, IL 60604

Note: Cheques mailed to the P.O. box are directly forwarded to BMO Bank for processing. Please note that cheques may take up to seven days to arrive and an additional five days for processing.

Credit Card

  • Held up to 5 business days after payment is received.
  • Order will ship after the clearing period.
  • Credit cards may require valid photo ID, and matching address verification.
  • Credit Card Payments must use the same billing and shipping address when purchasing online. Please call us at 1-888-861-0775 should you have any questions.

Bank Wire

  • Held for 2 business days after payment is received.
  • Check your wire confirmation email for the attached wire instructions.

Crypto Payments

  • Order must be below $7,000.
  • Payment must be sent within 15 minutes of the order being placed. 
  • It may take up to 2 days for the payment to be cleared.

How do I make a wire payment?

Once your order has been placed, we will email you the banking information required for a wire transfer.

Where do I send my payment?

If you are paying with a money order, certified cheque, bank draft, cashier’s cheque, or personal/business cheque, please see below:

Regular US Mail:

SPROTT MONEY LTD
P.O. Box 71070
Chicago, IL 60694-1070

Courier with Signature Required:

Conduent c/o BMO Harris
SPROTT MONEY LTD

LBX 71070
141 W Jackson Blvd/Suite 1000
Chicago, IL 60604

Cheques mailed to the P.O. box are directly forwarded to BMO Bank for processing. Please note that cheques may take up to seven days to arrive and an additional five days for processing.

What payment methods does Sprott Money Ltd. NOT accept?

Payments we DO NOT accept:

  • Credit Cards (Orders over $500)
  • Third Party Cheques and Payments
  • Direct Deposits
  • Cash

Please note that our compliance department will reject and return any direct deposit payments. If you are experiencing difficulties making payment via bank wire or bank drafts, we recommend using our free bank bill payment option instead.

We do accept a credit card as a form of payment on orders under $500; however, a valid Visa or Mastercard number is required to lock in your price on all orders. In this case, your credit card will not be charged for the amount of your purchase. If you should fail to pay for your order; however, an Unpaid Transaction Fee of $50 plus any market loss will be applied and charged to your card.

If you do not notify Sprott Money of a delayed payment, we cannot guarantee the confirmed price. Under such circumstances Sprott Money Ltd. reserves the right to either accept payment or provide a fresh quote based on the market price at the time payment is received.

Third Party Deposits

Anti-money laundering legislation (AML) prevents Sprott Money from accepting deposits from a third party/person, such as parents, friends, business partner, etc.

Name on the payment, or bank account must match with the name on the customer account and order. Personal orders must be funded with personal cheques, and business orders with business funds.

Any third party payments will be returned within 5-10 business days.

How long does it take for my payment to process?

Clearing times for payments vary depending on which payment method you have chosen:

Payment Method: Clearing Time:
Personal Cheque
Business Cheque
5 Business Days*

Bank Order
Money Order
Certified Cheque

5 Business Days

Bank Wire 2 Business Days
Credit Card Up To 5 Business Days

*The term business day means Monday to Friday, except all statutory public holidays in Ontario, Canada.

What if payment is not received within 10 business days?

If you believe your payment will be delayed past 5 business days, please contact us. If you do not notify Sprott Money Ltd. of a delayed payment, we cannot guarantee the confirmed price. Under such circumstances Sprott Money Ltd. reserves the right to either accept payment, provide a fresh quote based on the market price at the time payment is received, or cancel the order. Please see our Order Policy for details.

Shipping

Does Sprott Money Ltd. ship internationally?

Sprott Money Ltd. only provides shipping rates for North America on our website at this time.

If you reside outside of these countries, please call (416) 861-0775 or email us at sales@sprottmoney.com to discuss options, such as storage.

How long will it take to receive my package?

Sprott Money Ltd. ships all packages out within 2 - 15 business days of cleared payment. Delivery can be expected anywhere from 2-15 business days from the shipment date. Please note that to better safeguard your metals from loss, theft or damage as they are being delivered, Sprott Money does not ship on Fridays.

ATTENTION: Should you receive opened, tampered of damaged shipments.

Refuse the order and inform the carrier to return the package to the sender and contact Sprott Money immediately. Once the package is accepted by the client, Sprott Money cannot insure or be liable for any damaged shipments.

INSURANCE IS VOIDED if you make any changes to the normal delivery process once your shipment is in transit (including redirecting or waving the signature requirement).

How will my package arrive?

All of our packages are shipped discreetly and fully insured to the address provided. Upon delivery, a signature is mandatory. Canadian orders are shipped by way of FedEx, or Canada Post. U.S. orders are shipped by UPS or the United States Postal Service.

Who is responsible if my package is lost or stolen?

All packages are shipped fully insured, to the address provided. Upon delivery, a signature is mandatory.

Should your package be lost or stolen in transit, the contents of your order are fully covered and you will be fully compensated.

IMPORTANT: Indicating a signature is not required and/or giving permission for someone (other than yourself) to sign for deliveries, voids your insurance. This includes leaving your package with an office attendant, family member, building concierge, neighbour, or The UPS Store/ Mail Boxes etc. locations. Under the aforementioned circumstances YOUR PACKAGE WILL BE VOID OF INSURANCE.

What happens if I am not home when my package is delivered?

If you are not home when your delivery first arrives, a second attempt will be made the following day. If you are not available, a notice will be left at your door for you to pick-up your package at the nearest post office, UPS, or FedEx location.

What are the shipping and insurance fees?

  • Shipping and insurance rates for gold: $15 + 0.4% of the dollar value of your order.

  • Shipping and insurance rates for silver: $30 + 0.75% of the dollar value of your order.

  • Shipping and insurance rates for platinum: $30, insurance is covered by Sprott Money Ltd.

  • Shipping and insurance rates for gold and silver, and/or platinum (combination order): $30 flat rate + 0.4% of the dollar value of gold in your order + 0.75% of the dollar value of silver in your order and insurance is covered by Sprott Money Ltd. for platinum. FREE Shipping & Insurance on all orders over $500.

Can I pick up my order in person?

In the Greater Toronto area, you can choose to pick up your order at Brinks for a fee of $50 plus tax. To request for this service, please speak to one of our representatives at 1-888-861-0775 or leave a comment under the Special Instructions section when placing an order. Unfortunately, this service is not available anywhere else.

Does Sprott Money Ltd. deliver to non-residential addresses?

Yes. Sprott Money Ltd. can deliver packages to any physical address located in North America. However, Sprott Money Ltd. cannot be held responsible for packages delivered to a business address or third party. Please see our Order Policy for more information.

Does Sprott Money Ltd. deliver to post office boxes?

Yes; however, please note that we do not ship orders over $15,000 to post office box addresses. A notice to pick up your package will be left in your box. A signature and one piece of government issued photo I.D. is required for pick up.

What are the restrictions for each package?

Each package must adhere to the following restrictions:

  • Value threshold: $40,000 USD per package.
  • Weight threshold: 500 oz for Silver and 15 oz for Gold per package.
  • Limit of one package per consignee per day.

For example, we cannot dispatch two monster boxes (each containing 500 SML) to the same client on the same day.

Please note that these valyes and weights are subject to change.

Storage

What is the Sprott Money Storage Program?

The Sprott Money Storage program allows you to purchase precious metals from Sprott Money and store in our secure storage facilities. Existing Sprott Money clients can also transfer their precious metals previously purchased from us to our storage facilities.

Where are your facilities located?

Sprott Money Ltd. has storage facilities located in:

  • Delaware, USA
  • Toronto, Ontario
  • Vancouver, British Columbia
  • Singapore
  • Switzerland
  • Cayman Islands (silver, platinum and gold coins only)

What is the process to set up a storage account?

If you have questions, we'd be happy to answer them. Please call us at 1-888-861-0775 to speak to a representative or email us through our Contact Us form.

Once your order has been placed, an application / storage agreement document will automatically be sent with the confirmation email.

When you have completed the form and have all of your documents, please submit them to our team via email at storage@sprottmoney.com or fax it to us at (416) 861-9855. When your application has been approved, we will transfer your products to your new storage account. Storage of your precious metals will officially begin upon receipt of payment for your Sprott Money purchase.

Please note that a completed and signed storage application and storage agreement must be provided to storage@sprottmoney.com within 10 business days after the order has been placed. If the storage application is not complete within this time frame, your order will be shipped to the billing address provided.

What are your storage costs?

We are pleased to offer some of the most competitive rates in the industry.
 
Storage Portfolio Fee Information
 
Portfolio Value per Location Storage Rate Currency
Up to $99,999.99 0.65% CAD
$100,000 to $499,999.99 0.55% CAD
$500,000 to $999,999.99 0.50% CAD
$1,000,000 to $1,999,999.99 0.45% CAD
$2,000,000 to $4,999,999.99 0.40% CAD
$5,000,000 + 0.35% CAD
*Minimum monthly fee is $16.67 CAD (per location)
Here are some specific examples:
1. $50,000 (Value of holdings, per location) x 0.0065 (0.65%)/12 = $325/12
Monthly fee = $27.08 CAD + tax
 
2. $150,000 (Value of holdings, per location) x 0.0055 (0.55%)/12= $825/12
Monthly fee = $68.75 CAD +tax
 
3. $600,000 (Value of holdings, per location) x 0.005 (0.5%)/12 = $3000/12
Monthly fee = $250.00 CAD + tax
 
Please call us for a quote. The yearly minimum storage fee is $200 plus applicable taxes. The minimum monthly fee is $16.67 plus applicable taxes. This means that by the above chart calculation, if the storage fee amounts to less than $16.67 plus applicable taxes in any month, you will still be charged $16.67 plus applicable taxes in that month.

Is there a minimum to store with Sprott Money?

There is no minimum to store with Sprott Money. 

Can I store my precious metals in multiple facilities?

Yes. You are welcome to store in any of our storage facilities. You will receive an invoice each month for each location. Each invoice provides a detailed account of your precious metals in that storage facility.

Why should I store in Canada, Singapore, Switzerland or the Cayman Islands?

As one of the most prosperous countries in the world, Canada is considered one of the safest places to store bullion due to its economic and political stability. The same applies to Singapore, the Cayman Islands and Switzerland. By storing with Sprott Money’s Storage Program, we can guarantee that your metals are stored securely and privately with little risk.

What is ‘segregated’ storage?

Segregated storage means that your precious metals are stored separately from others in individual boxes assigned to each client.

What does ‘allocated’ storage mean?

Allocated storage means that your precious metals are recorded under your name and you hold direct ownership of the metals.

Will my precious metals be stored at a bank?

No. Your metals will be stored with Brinks, IDS (International Depository Services) or a location in the Cayman Islands - they are non-bank facilities and among the most trusted storage facilities in the world.

What information do I need to provide to set up an account?

Sprott Money complies fully with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and our reporting obligations with the Financial Transactions Reports Analysis Centre of Canada (www.fintrac.gc.ca).

As part of the Know Your Client (KYC) program, we require our clients to provide contact details as well as two pieces of identification or submit to a bank reference check to verify your identity. Businesses that wish to store with us must complete additional forms and provide copies of entity-formation documents.

What are Basis Points?

Basis Points are an annual percentage rate. For example, 100 basis points = 1.00% of the account per year. Thus, 50 basis points = .50% (or ½%) of the account value per year.

What happens to my precious metals if Sprott Money goes bankrupt?

In the unlikely event that Sprott Money files for bankruptcy, your precious metals will be safe and secure. Sprott Money acts as a storage provider for your precious metals and does not hold any claim on your assets. Your precious metals will not be affected and you will be able to withdraw them from your storage account.

What happens if the storage facility goes bankrupt?

Your storage account will be segregated and allocated to your name. Brinks, IDS and a location in the Cayman Islands act as storage providers and do not hold any claim on your assets. Should a storage facility file for bankruptcy, you have the option of either having your precious metals returned to you or have it transferred to another secure storage facility.

How is Sprott Money different from the other companies that provide bullion storage?

1. Your precious metals will be fully insured. In the event of a loss, theft and/or physical damage to your products, you will be fully compensated.

2. Your precious metals will be allocated to your account and physically segregated from precious metals owned by Sprott Money and its clients.

3. Our storage facilities are located in some of the safest and most politically stable countries in the world.

4. We store with Brinks, IDS and a location in the Grand Cayman - all private and non-bank storage facilities that are renowned for their integrity, security and efficiency. Your precious metals will be safe under their world-class protection technology and infrastructure.

Storage Payment

What forms of payment do you accept for storage fees?

Sprott Money Ltd. accepts Visa and Mastercard for storage fees.

You will be billed on a monthly basis by using your pre-authorized credit card.

How am I billed for storage?

You will be billed on a monthly basis by using your pre-authorized credit card.

When am I billed for storage?

You will be billed on the first of every month.

How will I receive my account statements?

You will receive your electronic statement via e-mail on a monthly basis, unless a paper copy is requested.

Do you charge taxes on storage fees?

Yes. While all investment-grade bullion is tax-exempt, applicable taxes will be charged on storage fees.

 Does Sprott Money provide me with the reports of my stored holdings?

Yes. You will be provided with a monthly report of all your holdings with Sprott Money along with the fees and charges owed for the month electronically via email.

Is there a cost to record serial numbers?

Yes, additional fees may apply to record serial numbers for bars that weigh less than 400 oz. for gold and 1000 oz. for silver. Please call 1-888-861-0775 for a quote.

Storage Security

How do I know my bullion is really in the vault?

Sprott Money conducts annual audits by an independent auditor. Once the audit is complete, you will receive a report of your holdings. 

Can I come to the vault and perform a self-audit?

Yes. Annual self-audits are welcomed. They can be conducted by the client and a Sprott Money associate (Please call for a quote). You must provide Sprott Money with at least five (5) days' written notice to arrange an appointment at one of our storage facilities.

Are the contents of the vaults secured and insured?

Yes. All our clients’ bullion is safely secured, allocated, and insured. Your storage fees are insurance inclusive.

Will my bullion ever be commingled with other customers’ bullion?

No. Sprott Money ensures that your bullion will be fully segregated and allocated.

Storage Delivery & Transfer

How do I take delivery of my precious metals from your storage facility?

You’re required to complete our Transaction Request Form. Sprott Money can arrange shipment via a courier of our choice (UPS, FedEx, Canada Post or United States Postal Service) or you may arrange to pick-up from your storage location. Please call us for more details on how to make arrangements. 

I no longer wish to store with Sprott Money, how do I get my precious metals?

Please provide Sprott Money with (10) ten business days notification along with a completed withdrawal form. Once we have received your completed transaction request form, Sprott Money will arrange a transfer of your bullion from your account to the address provided. There will be a $75 administrative fee plus the cost of shipping and insurance.

How are large orders shipped?

Large orders will be shipped through an armoured courier, arranged by Sprott Money. Please consult a representative at 1-888-861-0775 for more information about shipping high-value orders.

How much does shipping to my address cost?

 Please call us 1-888-861-0775 for a quote.

Can you ship to my PO Box?

Yes. Your precious metals can be shipped to a PO Box via Canada Post or USPS (this depends on the size and location of the shipment). If you would like to arrange an alternative form of shipment, please contact a representative at 1-888-861-0775.

Can I store my bullion now and take delivery later?

Yes. You are welcome to store now and take delivery at any time. There will be an administration fee for shipping and insurance. Please call us at 1-888-861-0775 for more details.

Can I transfer my holdings from one Sprott Money storage facility to another Sprott Money storage facility?

Yes. You are welcome to transfer your holdings from one Sprott Money storage facility to another Sprott Money storage facility. There may be a cost involved depending on location and the value of holdings in storage. Please speak to a Sprott Money representative for a quote. You will need to submit a transfer request form and it could take 5-10 business days to arrange the transfer.

I want to sell back my precious metals. How can I do so?

If you would like to sell back your metals to Sprott Money, please contact one of our representatives toll-free at 1-888-861-0775. Once the sale has been confirmed, an invoice will be sent to you and the metals will be taken out of your account. Your payment will be mailed to you within the next 48 hours. Please note that Sprott Money will only buy back bullion that has been purchased from us to maintain the chain of integrity. We reserve the right to reject sale requests upon consideration of inventory levels, market conditions and product specifications.

Canadian Investments

What are the benefits of having precious metals in my self-directed registered account or TFSA?

Throughout history, precious metals have served as a hedge against instability in the markets and the economy. Precious metals allow you to have a balanced investment portfolio. Historically, precious metals have retained their value in the long term and are negatively correlated to stocks and bonds.

Are there minimums and trade fees?

There can be. Questrade charges a trade fee of $20 per product on orders that don't meet a minimum amount of $5,000 per product.

What types of bullion can I store in my self-directed registered accounts or TFSA?

You can add gold, silver, and platinum bullion to your accounts. They must be COMEX approved bullion and the specifications in the minimum fineness of each metal are:

Gold: 0.995+(%)

Silver: 0.999+(%)

Platinum: 0.9995+(%)

Please find below a complete list of LBMA products that are currently accepted for your precious metals registered account. 

NOTE: The availability of these products fluctuate and the products listed below may not all be available currently. Please call us at 1-888-861-0775 if you are interested in opening a precious metals registered account.  

Royal Canadian Mint

  • 1 oz Gold Maple Leaf Coin
  • 1 oz Gold Bar
  • 1/10 oz, ¼ oz, ½ oz Gold maples
  • 25 x 1 g Maplegram Coin
  • 1 kg Gold Bar
  • 1 oz Silver Maple Leaf Coin
  • 10 oz Silver Maple Leaf Coin
  • 10 oz Silver Bar RCM
  • 100 oz Silver Bar RCM
  • 1 oz Silver Coins (antelope, cougar etc)

US Mint

  • 1 oz Gold Eagle Coin
  • 1 oz Gold Buffalo Coin
  • 1 oz Silver Eagle Coin

Royal Mint

  • 1 oz Gold Britannia
  • 1 oz Royal Beast Gold Coins (series of coins)
  • 1 oz Royal Beast Siilver Coins (series of coins)
  • 1 oz Silver Britannia Coin
  • 10 oz Silver Britannia Bar
  • 100 oz Silver Britannia Bar

Pamp Suisse

  • 1 oz Gold Fortuna Bar
  • 5, 10 oz Gold Fortuna Bar
  • Any fractional Gold Bars
  • 1 kg Gold Bar
  • 1 oz Silver Bar
  • 1 kg Silver Bar
  • 100 oz Silver Bar

Austrian Mint

  • 1 oz Gold Philharmonic Coin
  • 1 oz Silver Philharmonic Coin

What do RRSPs, TFSAs, RESPs, LIRAs, RIFs, and LIFs stand for?

RRSPs - Registered Retirement Savings Plan

TFSA - Tax-Free Savings Account

RESP - Registered Education Savings Plan

LIRA -Locked-in Retirement Account

RIF - Retirement Income Fund

LIF - Life Income Fund

What are the benefits of purchasing precious metals through Sprott Money?

1) A trusted name within the precious metals industry

2) Volume pricing on large orders

3) An appointed representative to see through your order from start to finish

Who is Sprott Money’s Custodian partner?

We have partnered with Questrade as our custodian for self-directed registered accounts and TFSAs. You must set up your account with Questrade before placing an order with Sprott Money.

US Investments

What are the benefits of having precious metals in my self-directed IRA?

Throughout history, precious metals have served as a hedge against instability in the markets and economy. Precious metals allows you to have a balanced investment portfolio. Historically, precious metals have retained their value in the long term and negatively correlated to stocks and bonds.

What are the costs?

Please contact our trusted partner by calling toll-free at (877) 742-1270 ext. 185 for any inquiries regarding the fee schedule.

What types of bullion can I store in my IRA?

You can add gold, silver, and platinum bullion to your IRA. There are specifications in the minimum fineness of each metal: Gold: 0.995+ Silver: 0.999+ Platinum: 0.9995+

What are the benefits of purchasing precious metals through Sprott Money?

1) A trusted name within the precious metals industry

2) Volume pricing on large orders

3) An appointed representative to see through your order from start to finish

High Net Worth

Who qualifies as an accredited investor?

In order for an individual to qualify as an accredited investor, he or she must accomplish at least one of the following:

Earn an individual income of more than $200,000 per year – or a joint income of $300,000 – in each of the last two years and expect to reasonably maintain the same level of income. 

Have a net worth exceeding $1 million, either individually or jointly with your spouse.

Be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered. These investors are considered to be fully functional without all the restrictions of the SEC.

An employee benefit plan or trust can be qualified as accredited investors if total assets are in excess of $5 million.

What are the requirements for being a high-net-worth individual?

High-net-worth individuals are typically defined as having investable finance (financial assets, excluding primary residence) in excess of $1 million dollars.

Sell To Us

What types of products can I sell to Sprott Money Ltd.?

Sprott Money rarely accepts anything other than bullion that has been purchased from us to maintain the chain of integrity.

What is the “sell to us” standard procedure for non storage accounts (previously purchased metals)?

Step 1: Call a Sprott Money Sales Representative to request a quote.

Step 2: If the precious metals are not sealed, a $2.50 CAD fee per item will be charged for a purity test.

Step 3: Fill out the Payment and Transaction Request forms within 24 hours once you receive the sell back order confirmation. 

Step 4: Shipping and insurance costs are the customer's responsibility. Please contact your preferred courier for a quote.

Step 5. Please kindly ship the metals within 48 hours from the time the sell back order is placed. 

Step 6: It takes up to 5-10 business days to send a payment after we receive the metals and test them for purity. 

What is the “sell to us” standard procedure for storage accounts?

Step 1: Call a Sprott Money Sales Representative to request a quote.

Step 2: Fill out the Payment and Transaction Request forms within 24 hours after receiving the sell back order confirmation. 

How long does the process take?

For buying back your metals from storage, the payment is sent within 5-10 business days of receiving your completed Storage Transaction Request form. This form is your written consent of the transaction. For a buy back where the metals are shipped to us, payment is sent within 5-10 business days of the verification of the products.

Can I drop my products off at a facility?

If you are located in the Greater Toronto Area you are welcome to drop off your products. Please call us to set up your appointment at 1-888-861-0775.

Can I be paid by wire transfer instead?

Yes, you have the option to receive a wire transfer for a fee of $35 USD/CAD. This fee would be deducted from the amount owing to you.

Can I place a buy back order online?

Buy back orders must be completed over the phone. Please call us at 1-888-861-0775.

Where can I find buy back prices?

Buy back pricing is dependent on market conditions, physical location and supply and demand. Please contact us at 1-888-861-0775 and we would be happy to help you.

Sprott Money does NOT accept the following items:

  • Competitor's coins and bars
  • Jewelry
  • Rare coins
  • Vintage coins
  • Collectors coins
  • Non-minted products
  • Gold/silver dust
  • Gold/silver scraps

What forms need to be filled out to complete the sell-to-us process?

The forms you need to fill out are the Payment and Transaction Request forms. Please make sure to fill out the forms within 24 hours. 

What address should I send my metals to?

The shipping address will depend on your location. Please contact a Sprott Money sales representative to inquire.

Privacy

How is my personal information used?

Sprott Money Ltd. protects all personal information with appropriate security safeguards.

We do not sell, exchange, loan or make any information available that you have provided to us, except as needed to fulfill your order and as required by law. Your information is kept on file only as long as it is required by law.

For more information regarding the Canada Privacy Act, please visit www.priv.gc.ca.

We are not required to submit any information to U.S. authorities. However, as a precious metals dealer we comply fully with the Proceeds of Crime (Money laundering) and Terrorist Financing Act and our reporting obligations to the Financial Transactions Reports Analysis Centre of Canada (FINTRAC).

For more information regarding FINTRAC please visit www.fintrac.gc.ca.

 

Is my personal information secure online?

Sprott Money Ltd. recognizes the importance of security and confidentiality. We take every measure to protect the information of our clients. We encrypt all communication using VeriSign SSL (Secure Socket Layer) encryption standard for all information transmitted to and from our system. We also maintain our software up-to-date and install all of the security updates that are published. In addition, our staff have all provided police checks when hired. 

Do you report my precious metals purchase to the IRS?

No, Sprott Money Ltd. does not report any sales to the IRS.

Referral Program

How does Sprott Money's referral program work?

Step 1: Refer a family member or friend to place an order with Sprott Money.

Step 2: Your referral places the order online and adds your name in the referral section during checkout, or they can call in to place the order and mention you as the referrer.

Step 3: Once the order has been successfully completed, you will receive an email from us with a promotional code to claim your discount for your next order.

Step 4: Redeem your discount by calling our sales representative, or place your order online using your promotional code.

Step 5: Order with us and save!

What discount do I get for referring a new customer?

We have the following tiers on the discount you recieve based on your referral's order value:

Referral Order Value Referrer Discount
$1,000 - $19,999 $20 Off
$20,000 - $99,999 $100 Off
$100,000 and Above $500 Off

*Please note that in order to redeem your discount, you must have an order $1,000 and above.

How does my referral mention me as a referral while placing an online order?

When your referral is in our checkout, they will see a section asking if they were referred to Sprott Money. Once they click yes, a section will drop down where they can enter your name, email and phone number. Once the order is sucessfully paid and shipped, our sales representatives will reach out to you with a promo code for your next order.

Can I redeem my referral discount when placing an order over the phone?

Yes, when on the phone with our sales representatives, be sure to mention your discount and the provided promo code. Our representatives will ensure that you recieve the discount on your order.

Can I combine the referral discount code with other referral codes?

Yes. Multiple discount codes can be combined with other referral discount codes.

How do I track my referrals and rewards?

To track your referrals and rewards, simply give us a call, and we'll guide you through the process.

Do I get a discount code every time my referral orders?

No. Discounts are based on the referred client’s first purchase only.

When do I receive my discount code?

You will receive your discount code via email when the referral’s order is complete. A completed order is when an order is fully paid and either shipped and received at your referral’s address or stored in your referral’s new storage account.

Is there a minimum order value when redeeming my referral discount?

yes, you must place an order of $1,000 or higher to redeem your discount.